1878-1904 Morgan Silver Dollar - BU

Product ID: BST-002004AD13

Specifications

Random Year Status Random Year
Precious Metal Type Silver
Bullion Coin Type Morgan Dollar
Format Coin
Country of Origin United States
Brand/Mint U.S. Mint
Mint Mark Various
Purity 0.9
Weight 0.7734 oz
Thickness (mm) 2.4 mm
Diameter (mm) 38.1 mm
Inner Pack (Quantity) 20
Outer Pack (Quantity) 1000
Grade BU

Product Details

Overview of the 1878-1904 Morgan Silver Dollar (BU)

The Morgan silver dollar is one of the most widely recognized coins in American numismatic history, struck at multiple United States Mint facilities between 1878 and 1904. Each coin contains 0.7734 troy ounces of silver at .900 fineness, giving it a substantial weight and a composition that aligns with the coinage standards of the era. These are original United States Mint issues carrying full legal tender status, produced across facilities including Philadelphia, New Orleans, Carson City, and San Francisco.

We carry these coins in Brilliant Uncirculated condition, representing examples that show no signs of wear from circulation. At that grade level, the design details, luster, and strike quality remain largely intact, making these coins attractive to both collectors and buyers focused on silver content. The "common dates" designation reflects that these are from the more frequently encountered years within the series rather than the scarcer key dates, which makes them more accessible without sacrificing the series' overall appeal.

History and Background

The Morgan dollar was born out of the Bland-Allison Act of 1878, which r

Overview of the 1878-1904 Morgan Silver Dollar (BU)

The Morgan silver dollar is one of the most widely recognized coins in American numismatic history, struck at multiple United States Mint facilities between 1878 and 1904. Each coin contains 0.7734 troy ounces of silver at .900 fineness, giving it a substantial weight and a composition that aligns with the coinage standards of the era. These are original United States Mint issues carrying full legal tender status, produced across facilities including Philadelphia, New Orleans, Carson City, and San Francisco.

We carry these coins in Brilliant Uncirculated condition, representing examples that show no signs of wear from circulation. At that grade level, the design details, luster, and strike quality remain largely intact, making these coins attractive to both collectors and buyers focused on silver content. The "common dates" designation reflects that these are from the more frequently encountered years within the series rather than the scarcer key dates, which makes them more accessible without sacrificing the series' overall appeal.

History and Background

The Morgan dollar was born out of the Bland-Allison Act of 1878, which required the Treasury to purchase and coin a set amount of silver each month. The coin takes its name from George T. Morgan, the British-born engraver hired by the United States Mint who designed both the obverse and reverse. Production continued from 1878 through 1904, paused for 17 years, and then briefly resumed for a single year in 1921 before the Peace dollar replaced it.

Throughout its production run, the Morgan dollar was struck at five different mint facilities, with each mint producing coins with distinct characteristics. The Carson City issues, for instance, are particularly prized due to their lower mintages and Western heritage, while New Orleans and Philadelphia dates vary considerably in scarcity. The coin circulated during a period of dramatic economic change in the United States, and many were melted under the Pittman Act of 1918, which ultimately reduced the surviving population of certain dates and mint marks.

The series holds a deep place in American coinage history, representing the silver dollar in its classic, large-format form. Collectors have catalogued it extensively, and it remains one of the most actively traded 19th-century coin series in the secondary market today.

Design and Aesthetics

The obverse features a left-facing portrait of Liberty, modeled after Anna Willess Williams, a Philadelphia schoolteacher who sat for Morgan's design sessions. Liberty wears a coronet inscribed with the word "LIBERTY" and is surrounded by a wreath of cotton, wheat, tobacco, and oak. The inscriptions "E PLURIBUS UNUM" and the date appear alongside the portrait, and the reverse displays a large, naturalistic eagle with outstretched wings clutching arrows and an olive branch.

The reverse eagle is set against a field that includes "IN GOD WE TRUST" and the denomination "ONE DOLLAR," along with "UNITED STATES OF AMERICA." The design has a bold, high-relief quality relative to later 20th-century coinage, and the reeded edge adds a classic finishing detail. In BU condition, the fields retain their original mint luster, and the high points of the design such as Liberty's cheek and the eagle's breast feathers show no wear, allowing the full detail of Morgan's work to remain visible.

Authenticity and Product Integrity

Morgan silver dollars from this era are genuine United States Mint issues struck to strict federal coinage standards, with each coin containing 26.73 grams of silver at .900 fineness. The specifications were mandated by law under the Bland-Allison Act, giving buyers a high degree of confidence in the metal content of any authenticated example. Because these coins are over a century old, authentication is an important part of the buying process for higher-grade examples.

We are authorized dealers for both PCGS and NGC, the two leading third-party coin grading services, which positions us well to assist buyers seeking graded and slabbed examples of this series. For raw BU coins in our inventory, we verify authenticity and condition as part of our standard handling process. Buyers who want additional assurance can pursue third-party grading through either service, and our team is equipped to discuss that process in detail.

Condition and Packaging

BU, or Brilliant Uncirculated, describes a coin that has never entered general circulation and retains its original mint luster across the surfaces. At this grade level, the strike details remain sharp, and the fields have not been worn down by handling. That said, BU is a broad designation that encompasses a range of technical grades, and coins in this category may exhibit minor bag marks or contact points from their time stored in original mint bags, which is entirely normal for uncirculated 19th-century coinage and does not indicate circulation wear.

Individual coins ship in protective plastic flips that keep surfaces safe during transit. Larger quantity purchases typically ship in tubes of 20, consistent with how Morgan dollars have long been stored and distributed in the secondary market. When purchasing bulk quantities, coins may be packed in sealed boxes. Because these are raw, ungraded examples sourced from the secondary market, minor contact marks, surface toning, or light handling signs may be present, and this is expected for coins of this age and does not affect the silver content or numismatic character of the piece.

Pricing and Market Factors

Pricing for Morgan silver dollars reflects both the current spot price of silver and the numismatic premium associated with the series. The .7734 troy ounce silver content provides a baseline intrinsic value, but BU common-date Morgans typically trade at a meaningful premium above that figure due to collector demand, historical significance, and the cost of acquiring original mint-state examples. That premium can fluctuate based on overall market activity, collector interest, and the available supply of BU-grade pieces in the secondary market.

Common-date BU Morgans tend to be more price-accessible than key-date issues, but they still command a stronger premium than circulated examples of the same dates. Our pricing reflects real-time market conditions, and the bid/ask spread displayed on each product page gives buyers visibility into both acquisition cost and current resale value, which helps frame the full cost of ownership more clearly than spot-based pricing alone.

Selling and Liquidity

Morgan silver dollars are among the most actively traded coins in the United States and carry strong recognition across both the numismatic and bullion markets. Their long history, federal issuance, standardized specifications, and widespread collector base make them a straightforward item to sell in virtually any market environment. Common-date BU examples are liquid assets precisely because they are not rare or difficult to price, and buyers at every level of the market are familiar with the series.

We operate a two-way market that allows customers to both purchase and sell coins within the same platform. This means liquidity is built into the relationship from the start rather than something you have to figure out after the fact. Our competitive buyback pricing reflects current wholesale market conditions, and you can evaluate current bid pricing on the product page before making any purchasing decision.

Why Buy the 1878-1904 Morgan Silver Dollar (BU)?

The Morgan dollar occupies a rare position in the market where genuine numismatic appeal and meaningful silver content coexist in a single coin. For buyers who want more than a generic round or bar, a BU common-date Morgan offers a piece of documented American monetary history with a recognized design that has remained in demand for well over a century. The .7734 oz silver content provides tangible metal value, while the BU grade ensures you are holding a coin that has never passed through commercial circulation.

Common-date BU examples are particularly practical for buyers looking to acquire multiple pieces without paying the steep premiums associated with key dates. They are easy to store, well-documented in standard price guides, and recognized by dealers nationwide. Whether the priority is the silver content, the historical connection, or simply owning a classic American coin in excellent condition, the Morgan dollar delivers on all three in a way that very few other coins can.

Why Buy from Bullion Standard?

We have built our business around transparency and long-term customer trust since our founding in 2010. That means pricing that reflects real market conditions, a two-way platform that supports both buying and selling, and access to objective market data rather than pressure-based sales tactics. Our A rating with the Better Business Bureau and memberships in the American Numismatic Association and the National Coin and Bullion Association reflect the standards we hold ourselves to across every transaction.

As authorized dealers for both PCGS and NGC, we are positioned to provide knowledgeable guidance on graded and raw examples alike. Every product we offer is verified for authenticity before it reaches a customer. We source from reputable mints, wholesalers, and established distributors within the precious metals and numismatic markets, and our fulfillment process is designed to get orders to customers securely and efficiently. If you have questions about specific dates, grades, or how Morgan dollars fit within your broader holdings, our team is available to help you work through those decisions with straightforward, informed answers.

Get Near-Spot Pricing with Bullion Standard Pro

Bullion Standard Pro gives members access to live, executable wholesale bid and ask pricing on products like common-date BU Morgan dollars, allowing you to see exactly how these coins are priced and traded at the wholesale level in real time. Rather than working from estimated retail prices, you can evaluate current premiums, track bid/ask spreads over time, and understand how supply, demand, and market activity are influencing this specific series. That kind of pricing transparency is difficult to find anywhere else in the physical coin market.

Pro members also benefit from real-time portfolio valuation using live wholesale bid prices, which gives a more accurate picture of current liquidation value than standard retail estimates. Proprietary research tools allow you to compare Morgans against other silver coins and bullion products using objective metrics such as premium percentiles, spread tightness, and liquidity indicators, helping you make purchasing and selling decisions based on actual market data rather than assumptions.

Flexible and Secure Payment Options

We support a broad range of payment methods to make every transaction as straightforward as possible. Buyers can pay using major credit cards including Visa, Mastercard, American Express, and Discover, as well as PayPal, bank-connected payments through Plaid, wire transfer, and paper check. Cryptocurrency payments are accepted through BitPay for buyers who prefer that option.

Each payment method is processed through a secure transaction environment, and our checkout process is designed to be clear and efficient from start to finish. Whether you are purchasing a single coin or a larger quantity, the same commitment to security and reliability applies at every step of the transaction.

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